Beyond Horizons
Trailblazing Tales from Asia
Your exclusive gateway to the latest developments across transportation and space, and most importantly, how to finance it all - debt, equity, and defi! We follow and forecast where the money’s at.
Join us as we navigate through the latest roundup to uncover key developments across the region.
**Nothing in this article is intended to be or should be construed as legal or financial advice.**
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Events
Singapore FinTech Festival 2024
The Singapore FinTech Festival (SFF) will return for its 9th edition from November 6 to 8, preceded by the Insights Forum™ on November 4 and 5. This year's festival will feature a lineup of global central bankers, regulators, industry leaders, entrepreneurs, investors, innovators, and influencers, all coming together to collaborate and shape the future of the global financial ecosystem through the alignment of regulation, innovation, and technology.
SFF is organized by the Monetary Authority of Singapore, Elevandi, and Constellar, in partnership with The Association of Banks in Singapore.
Unruly Airline Passenger Management & Restraint
Dispax World is hosting the 5th International Conference on Unruly Airline Passenger Management & Restraint from November 20-21 at the Carlton Hotel Bangkok Sukhumvit, Thailand.
The event aims to address the challenges associated with unruly passenger behavior, exploring various causes, responses, and legal considerations for airlines and regulatory bodies.
Over two days, attendees will gain insights from aircrew, passengers, regulatory authorities, industry associations, and law enforcement. Students and charities can benefit from a 50% discount on the registration fee.
Read
Why Taiwan and Its Tech Industry Are Facing an Energy Crisis
Produced by the Yale School of the Environment, author Isabel Hilton examines how Taiwan, the world’s largest producer of advanced computer chips, is struggling to meet its growing demand for electricity. Heavily reliant on imported fossil fuels, with plans to soon shut down its last nuclear plant and a sluggish pace in developing renewable energy sources, the island is facing an impending energy crunch.
Sustainable Finance in Asia: A Comparative Study of National Taxonomies
A new report by the Institute for Energy Economics and Financial Analysis (IEEFA) reveals that green finance taxonomies across Asian jurisdictions differ widely in scope and definitions, creating confusion for businesses and investors. Authored by IEEFA's Sustainable Finance Lead, Ramnath N. Iyer, the report outlines the challenges posed by these variations and the lack of mandatory reporting across the region. Iyer recommends a unified approach, advocating for clear definitions, alignment with international standards, and compulsory compliance to ensure effective sustainable finance practices in Asia.
Space2030 Agenda
The Space2030 Agenda is a strategic framework designed to support the Sustainable Development Goals through space initiatives, revolving around four key pillars. The Space Economy aims to promote the economic benefits of space for global populations, positioning the space sector as a catalyst for economic dynamism. Space Society focuses on leveraging space technology and services to enhance the quality of life worldwide. Space Accessibility seeks to ensure that all countries can access space technology, data, and physical space to harness its benefits. Finally, Space Diplomacy encourages mutual respect and collaboration among nations to tackle common global challenges.
Summary
Financing & Investments: Qatar Airways to Acquire 25% Stake in Virgin Australia; Google Invests Over $3 Billion in Data Centers in Thailand and Malaysia; Castlelake to Finance $560 Million Aircraft Acquisition for Vietjet; MAS to Launch Leadership Programs for Financial Executives in 2025; and Blackstone Targets $10 Billion for New Asia-Focused Private Equity Fund
Environmental Sustainability: GenZero Reviews Southeast Asian Carbon Credit Program Amid Fraud Charges Against CQC Executive; Marsden Point Refinery Set for Transformation into Renewable Biofuels Hub; Bangchak and BCS Aviation Partner to Propel SAF in Malaysia; Jet Zero Australia Secures $14 Million for SAF Project Ulysses; and Philippines Collaborates with Airbus to Develop Sustainable Aviation Fuel Ecosystem
Aviation: Macau International Airport Expansion Project Receives Land Concession; Singapore to Build Second Logistics Park at Changi Airport to Enhance Air Cargo Capacity; South Korea Fines Saudia Airlines, Qatar Airways, and Eight Others for Aviation Violations; ST Engineering Secures 15-Year MRO Contract with Akasa Air for LEAP-1B Engines; Thai SmartLynx to Launch as Thailand’s Premier ACMI Provider in 2025; New Mental Health Survey for Australia's General Aviation Sector; and Philippines Unveils Ambitious Reforms to Transform Aviation Sector by 2028
Advanced Air Mobility: Toyota to Invest Additional $500 Million in Joby Aviation for Electric Air Taxi Development; FlyOnE Announces Intent to Acquire 30 Smartflyer SF1 Electric Aircraft; and Skyportz and Microflite Plan Electric Air Taxi Vertiports in Melbourne
Cybersecurity: HSBC Singapore First Bank to Use Singpass Face Verification for Mobile App; and Blackpanda Secures $6.7 Million in Funding to Enhance Cybersecurity Services in Asia
Marine: marinEV Unveils Hydromover 2.0 for Zero-Emission Cargo Transport in Singapore; KR Approves Innovative Hybrid-Electric Crew Transfer Vessel; HD Hyundai Heavy Industries Pursues Acquisition of Leeyoung Industrial Machinery Amid Shipbuilding Boom; Singapore and Hamburg Port Authorities Strengthen Partnership for Maritime Innovation and Sustainability; and MA CGM Introduces First Foreign-Owned Domestic Shipping Service in the Philippines
Space: China Unveils New Spacesuit for Upcoming Moon Mission; Zebrafish Flourish Aboard China's Tiangong Space Station; NTA and ISC Partner for Space Travel Business
Financing & Investments
Australia-Qatar
Qatar Airways Group has announced plans to acquire a 25% stake in Virgin Australia from Bain Capital, subject to regulatory approval. The investment aims to unlock new cooperation opportunities, driving both consumer and economic benefits. Pending ACCC approval, Virgin Australia will launch flights from Brisbane, Melbourne, Perth, and Sydney to Doha, connecting to Qatar Airways' global network, with over 100 new itineraries across Europe, the Middle East, and Africa.
💡By mid-2025, Virgin Australia will begin wet lease services to evaluate long-haul wide-body aircraft viability. The partnership also explores sustainability efforts and strengthens Western Sydney Airport's role as an emerging aviation hub.
Thailand-Malaysia
Google announced plans to invest more than $3 billion over the next six years to establish data centers and cloud regions in Thailand and Malaysia, responding to the increasing demand for cloud computing and AI technologies in Southeast Asia.
In Thailand, Google will invest $1 billion to build its first data center in Chonburi province and a Google Cloud Region in Bangkok. The initiative is expected to add $4 billion to Thailand’s GDP by 2029 and support around 14,000 jobs annually from 2025 to 2029. The investment aligns with Thailand's Cloud First Policy and includes plans to enhance AI skills among locals, aiming to empower 150,000 individuals by 2026.
In Malaysia, Google has broken ground on a $2 billion data center and cloud region in Elmina Business Park, Selangor. The project is projected to generate over $3.2 billion in economic impact by 2030 and create approximately 26,500 jobs.
💡The expansion aligns with a broader trend in Southeast Asia, where countries like Thailand and Malaysia are emerging as key players in the digital economy. The region’s data center market attracted $10.23 billion in investments in 2023, with projections expected to reach $17.73 billion by 2029, driven by increased internet penetration and the need for robust digital infrastructure.
Vietnam
U.S.-based Castlelake, a global alternative investment manager specializing in aircraft, has agreed to finance four Airbus A321neo aircraft valued at $560 million for Vietnamese budget carrier Vietjet. The MoU was signed during the Vietnam-Ireland Business Forum in Dublin, witnessed by Vietnam's Party General Secretary and State President To Lam.
💡The financing will support Vietjet's existing order with Airbus, with deliveries expected by the end of the year. The agreement follows a previous financing arrangement completed in 2023 for three Airbus A321neo aircraft.
Singapore
The Monetary Authority of Singapore (MAS) will introduce two leadership programs in 2025 to develop financial leaders. The first program targets senior executives at the managing director level and above, while the second focuses on high-potential mid-level professionals.
💡The Asian Financial Leaders Scheme will cover 50% of costs for Singaporean participants. Additionally, a new Group Track under the International Postings Programme (iPOST) will support financial institutions in sending more Singaporeans abroad, with MAS extending funding support from two to three years.
Asia-Pacific
Blackstone Inc., the world’s largest alternative asset manager, is raising its third Asia-focused private equity fund, aiming for at least $10 billion, reports Reuters. The new fund will predominantly target India, with significant allocations also planned for Japan and Australia. The strategy remains flexible, adapting to the macroeconomic landscape.
💡The fundraising initiative comes as investors seek growth opportunities in Asia amidst challenges in the Chinese market, including economic slowdowns and regulatory issues. Blackstone, which manages over $1 trillion in assets, previously closed its second Asia buyout fund at $11 billion in 2022 and is expanding its presence in Southeast Asia, including plans to double its workforce in Singapore.
Environmental Sustainability
Southeast Asia
GenZero, a Temasek-owned investment firm, is reviewing its participation in a Southeast Asian carbon credit program following fraud charges against Kenneth Newcombe, former CEO of C-Quest Capital (CQC), which runs the program. Newcombe was indicted on October 2 in New York for allegedly exaggerating emissions reductions and misleading investors, alongside co-defendants Tridip Goswami and Jason Steele. CQC, which aimed to provide efficient cookstoves to communities in Africa and Asia, is accused of obtaining tens of millions of dollars in fraudulent carbon credits and misleading the carbon credit standards body Verra. In response, Verra has suspended 27 CQC projects and initiated a review.
GenZero, which invested $14 million in the program alongside Pavilion Energy, emphasized its commitment to upholding the integrity of carbon markets.
💡The allegations raise further concerns about the credibility of the global voluntary carbon market, which has faced scrutiny over the legitimacy of various carbon credit projects.
New Zealand
Channel Infrastructure NZ Limited has announced a conditional agreement with Seadra Energy and a consortium including Qantas, Renova, Kent, and ANZ Bank to develop a biorefinery at the former Marsden Point refinery site. The biorefinery will produce sustainable aviation fuel (SAF), HVO, and other biofuels, repurposing existing refinery assets.
💡The investment decision is expected by the second half of 2025, with several key commercial agreements already outlined.
Malaysia-Thailand
Bangchak Corporation Public Company Limited has signed a Memorandum of Understanding (MoU) to procure used cooking oil (UCO) from southern Thailand for the production of SAF. The agreement was finalized with New Biodiesel Company Limited, a major UCO collector, and Thanachok Vegetable Oil (2012) Company Limited. This makes BCS the first company to introduce SAF into the Malaysian aviation market.
💡Under the "Tod Mai Ting" (Fry, Don’t Waste) initiative, New Biodiesel will supply UCO to BSGF, promoting a circular economy and maximizing resource use. The collaboration aims to systematically manage UCO disposal, reducing environmental impact and enhancing public health.
Australia
Jet Zero Australia has secured $14 million in grant support from the Commonwealth and Queensland Governments to advance Project Ulysses, its SAF initiative in Townsville. The funding includes $9 million from the Australian Renewable Energy Agency (ARENA) and $5 million from the Queensland Government.
Project Ulysses aims to convert agricultural by-products into 102 million liters of SAF and 11 million liters of renewable diesel annually. This marks the largest government commitment to a SAF project in Australian history, following over $30 million in private investment from partners like Qantas and Airbus.
💡The funding will facilitate engineering design and the commercial deployment of Alcohol-to-Jet (ATJ) SAF technology, with production expected to start by 2027.
Philippines
The Department of Transportation (DOTr) of the Philippines and Airbus have initiated a feasibility study aimed at establishing the country’s SAF ecosystem. Launched on October 3 during the 2024 Aviation Summit, the study will analyze country-specific macroeconomic data, evaluate SAF feedstocks and production pathways, and assess necessary implementation support, financing, and policies. It will also draft an action plan based on the International Civil Aviation Organization’s (ICAO) guidelines for SAF feasibility studies.
💡The initiative follows the creation of a SAF Committee under the Department of Energy-led National Biofuels Board, which oversees the development of the Philippines’ SAF roadmap. In addition to developing SAF, other strategies to achieve net-zero carbon emissions in the aviation industry include fleet renewal, adopting disruptive technologies, improving operations, and implementing carbon offsetting measures.
Aviation
Macau
Macau International Airport (MIA) has secured a land concession for its reclamation and expansion project, officially announced on October 3, 2024. Construction is set to begin by the end of 2024, with completion anticipated in the second half of 2030. The reclamation efforts will create additional aircraft stands and a rapid take-off runway, while preserving a 95-meter-wide water passage. Two new taxiways are also planned.
💡The project has been in the planning stages since 2010, with approvals from both the Macau SAR and the Central Government received in recent years.
Singapore
Starting in the 2030s, Singapore will develop a second logistics park at Changi Airport to expand its cargo handling capacity from 3 million to 5.4 million tonnes per year. The expanded hub will include the new logistics park, the upcoming Changi East Industrial Zone, and the existing Changi Airfreight Centre.
Singapore’s ongoing projects, include the construction of Changi Airport Terminal 5, which will add capacity for an additional 50 million passengers annually, and the development of Tuas Port, set to become the world’s largest fully automated port.
💡Singapore currently stands as Southeast Asia's largest air cargo hub, facilitating nearly 6,900 weekly flights.
South Korea
South Korea's Transport Ministry has fined Saudia Airlines, Qatar Airways, and eight other airlines for breaching aviation regulations. Saudia Airlines was fined 100 million won (about $75,500) for suspending flights between Incheon and Riyadh without approval. Qatar Airways faced a 150 million won penalty for violating aircraft leasing rules on the Incheon-Doha route. Additionally, South Korean low-cost carrier T'way Air was penalized 14 million won for failing to adequately inform passengers of flight delays on seven occasions.
💡Other airlines, including Spring Airlines and Lufthansa, each received fines of 2 million won for improperly marking flight tickets.
Singapore
ST Engineering's Commercial Aerospace division has signed a 15-year exclusive maintenance, repair, and overhaul (MRO) contract with Indian carrier Akasa Air, The agreement focuses on MRO solutions for the LEAP-1B engines powering Akasa Air's Boeing 737 MAX fleet. Under the partnership, ST Engineering will conduct the first Performance Restoration Shop Visit (PRSV) for the LEAP-1B engines at its aerospace facility in Singapore.
💡The contract covers Akasa Air's current fleet of 25 Boeing 737 MAX aircraft and the additional 201 aircraft expected over the next eight years.
Thailand
Thai SmartLynx is poised to make its mark as Thailand's first ACMI (Aircraft, Crew, Maintenance, and Insurance) provider, with plans to commence operations using Airbus A320s in early 2025. Collaborating with Avia Solutions Group and local partners, the airline is in the final stages of obtaining its Air Operator’s Certificate.
As the airline gears up for its launch, it is actively collaborating with the Civil Aviation Authority of Thailand to finalize regulatory requirements and recently inaugurated its corporate headquarters in Bangkok.
💡The venture comes in response to a surge in tourism, with Thailand expecting to welcome 40 million visitors by the end of 2024, a significant jump from 28 million in 2023. The current fleet, consisting of around 130 narrowbody aircraft, struggles to keep up with the increasing demand, particularly during peak travel seasons driven by holidays and school breaks.
Australia
A new mental health and wellbeing survey has been launched for current and former employees in Australia’s general aviation sector. Led by Angela Garvey, an Australian Aviation Excellence Award recipient, the initiative aims to provide aviation workers with access to mental health support without fear of judgment, especially after accidents or safety incidents.
💡The National General Aviation Culture and Wellbeing Survey will be open for four weeks, targeting individuals currently or previously employed in the industry. The survey seeks to address not only support for serious incidents but also the unique psychosocial hazards in aviation. It aims to equip businesses and management to recognize and manage these hazards, aligning with obligations under the Workplace Health and Safety Act.
Philippines
The Philippines has unveiled significant reforms to modernize its aviation sector, aiming to double passenger capacity and establish itself as a leading Asian aviation hub by 2028. Announced at the 2024 Aviation Summit, key initiatives include plans to expand the Manila Ninoy Aquino International Airport's capacity from 35 million to 62 million passengers annually, alongside the construction of the New Manila International Airport in Bulacan, which is set to begin in 2025. There will also be investments in multiple regional airports across Luzon, Visayas, and Mindanao, along with enhancements to the country's air navigation systems through collaboration with the Japan International Cooperation Agency for improved communications and air traffic management.
💡The Philippines also aims to become a major hub for aviation professionals and Maintenance, Repair, and Overhaul (MRO) services, with an anticipated demand for 2.28 million aviation professionals globally over the next decade. Environmental initiatives are also a focus, with a budget of 100 million pesos allocated for carbon emissions offset projects, reinforcing the country's commitment to achieving net-zero emissions by 2050.
Advanced Air Mobility
Japan-USA
Toyota Motor Corporation has announced a $500 million investment in Joby Aviation to support the certification and commercial production of its electric air taxi. The funding will be allocated in two equal tranches, pending regulatory approvals and the finalization of collaborative agreements.
With the new investment, Toyota's total stake in Joby will reach $894 million. The first tranche is expected to close later this year, with the second set for 2025.
💡Joby Aviation is making strides towards commercialization, having recently completed its third aircraft and commenced construction on an expanded manufacturing facility in California. The company is also progressing through the type certification process, with over one-third of the fourth of five stages now completed.
Australia
Perth-based FlyOnE has inked a Letter of Intent to purchase 30 Smartflyer SF1 electric aircraft, currently in development in Switzerland. The announcement follows FlyOnE’s successful completion of its first retail investment round, raising significant funds at a share price of $3.00, resulting in a market capitalization of $57 million.
💡The SF1 is a four-seat, fully electric aircraft designed for both passenger and cargo use, offering range extension capabilities of up to 430 nautical miles or five hours of flight time, powered by a tail-mounted electric motor and a nose-mounted fuel cell.
Australia
Microflite, operator of the Melbourne heliport on the Yarra River, is transitioning from traditional tourism helicopter services to electric air taxis in partnership with Skyportz. They are set to collaborate with Melbourne's new Lord Mayor and the Victorian government to identify locations for new vertiports, starting with the current helipad on the Yarra.
💡Australia’s Civil Aviation Safety Authority (CASA) is facilitating this shift by providing vertiport guidelines. The vision includes a network of vertiports across Melbourne, with potential sites like Southern Cross Station and Fishermans Bend under consideration.
China
XPeng AeroHT has announced nearly RMB 300 million ($42.8 million) in new pre-orders for its Land Aircraft Carrier. The news comes after forming strategic partnerships with Hangzhou-based Gaozhi Aviation and Aocheng Aviation, with contracts signed for 150 units during the third Global Digital Trade Expo held from September 25-29 in Hangzhou.
Both companies aim to provide air travel services to high-end clients in the Yangtze River Delta region and will assist XPeng AeroHT with airspace approvals, flight license training, and user events in Zhejiang province.
💡XPeng AeroHT plans to begin pre-sales of the Land Aircraft Carrier at the end of 2024, with mass production and deliveries expected in 2026. The vehicle will be priced at no more than RMB 2 million.
Cybersecurity
Singapore
HSBC Singapore has made headlines by becoming the first bank in the country to integrate Singpass Face Verification (SFV) for in-app provisioning on its mobile application. The feature enhances user security by allowing identity verification through Singpass, which is in line with new requirements set by MAS aimed at reducing digital banking fraud.
💡The move is part of a wider strategy to strengthen customer protection in the banking sector, including the removal of one-time passwords (OTPs) for digital tokens and the introduction of features like Money Lock.
Asia
Blackpanda, a cyber emergency response firm operating in Asia, has raised USD $6.7 million in funding from investors Singtel Innov8, Gaw Capital Partners, and WI Harper Group. The latest financing brings Blackpanda's total Series A fundraising to USD $21.7 million and will support the company's expansion across Asia, as well as the enhancement of its "IR-1" cybersecurity solution, which aims to improve business management of cyber emergencies and recovery.
💡In conjunction with the funding, Blackpanda has integrated Blackpanda Underwriting into its operations, becoming Asia's first exclusive cyber risk underwriting entity backed by Chaucer of Lloyd's of London.
Marine
Singapore
Yinson GreenTech’s marinEV has announced the launch of the Hydromover 2.0 project, an advanced zero-emission electric vessel designed for efficient light cargo transfer within the Port of Singapore. Building on the success of the Hydromover 1.0, the new vessel measures 23 meters in length and 7.6 meters in beam, with a cargo capacity of 30 metric tons—25% more than its predecessor.
💡Designed by Incat Crowther, the Hydromover 2.0 will be classed by Bureau Veritas, which has granted it Approval-in-Principle for its battery system design. The vessel is expected to be ready for sea trials in Q3 2025, supporting Singapore's Maritime and Port Authority's goal of having all new harbor craft be fully electric or operate on lower carbon fuels by 2030.
South Korea
Korean Register (KR) has granted Approval in Principle (AIP) for an eco-friendly crew transfer vessel (CTV) developed by MARCON, a South Korean maritime service provider. The CTV features hybrid-electric propulsion powered by batteries, addressing environmental regulations while offering fuel savings and enhancing safety in offshore wind operations.
Key components include a hybrid energy storage system (ESS) from Hanwha Aerospace, which employs an immersion-type lithium-ion battery for improved cooling and fire safety. The vessel is equipped with Linear Jet propulsion units from YusinHR, boasting up to 70% efficiency and a maximum speed of 25 knots. MARCON estimates that the electric-hybrid CTV will reduce carbon dioxide emissions by approximately 70% compared to traditional propulsion systems.
💡Construction of the vessel commenced in September 2024 at a South Korean shipyard, with plans for launch in 2025.
South Korea
South Korea’s HD Hyundai Heavy Industries Co. is in the process of acquiring Leeyoung Industrial Machinery Co., a manufacturer of specialized shipbuilding equipment, as the industry anticipates a significant upswing. The bid, submitted on the final day for offers, is reported to be in the hundreds of billions of won, reports the Korean Economic Daily.
💡Leeyoung focuses on producing curved blocks, which are the most difficult to manufacture due to their shape. If the acquisition is completed, it would mark HD Hyundai’s first partnership with a block-making manufacturer.
Singapore
The Maritime and Port Authority of Singapore (MPA) has signed a Letter of Intent (LOI) with the Hamburg Port Authority (HPA) to deepen their partnership in maritime decarbonisation, digitalisation, and cybersecurity. Under the LOI, MPA and HPA will focus on sharing information about zero-emission fuels, exploring pilot projects for efficient port operations, and facilitating cybersecurity training for maritime professionals.
💡An MOU was also signed between NUS Enterprise and Hamburg’s Digital Hub Logistics (Digihub) to promote innovation through startup exchanges and collaborative projects.
Philippines
MA CGM Group, through its intra-Asia short-sea division CNC, is set to launch a new domestic shipping service in the Philippines, becoming the first foreign international shipping line to operate within the country. The development comes in light of the Philippine government's updated regulations that permit foreign shipping companies to enter the domestic market.
The service will kick off with the **CNC Pilipinas**, a Philippines-flagged vessel with a capacity of 1,037 TEU. Built in 2009, the vessel has previously been utilized by COSMOSHIP and ANL Singapore. It will operate under the **Luzon Visayas Mindanao Express (LVMX)**, making weekly stops at Manila, Cagayan de Oro, Cebu, and back to Manila.
💡CNC's initiative aims to enhance connectivity among key ports in the Philippines, shorten transit times, reduce logistics costs, and bolster economic relationships in the region. It will offer Filipino seafarers the chance to gain experience in international-standard operations and training, utilizing Very Low Sulfur Fuel Oil (VLSFO) to align with IMO 2020 standards.
Space
China
China has unveiled a new spacesuit designed for its ambitious plan to land astronauts on the moon by 2030. The red-and-white suit, revealed by the China Manned Space Agency (CMSA), is built to withstand extreme lunar conditions, including temperature fluctuations, radiation, and dust, while allowing for physical flexibility. 💡
💡Key features include a built-in camera system, an operations console, and a glare-resistant helmet visor.
China
Zebrafish aboard China's Tiangong space station are thriving in their miniaturized ecosystem, according to recent reports. The fish, which arrived with the crew of the Shenzhou 18 spacecraft on April 26, are part of a groundbreaking experiment designed to study the effects of microgravity on aquatic life.
The tank housing the zebrafish utilizes hornwort plants for photosynthesis, creating a self-sustaining environment. Early observations noted unusual swimming behaviors due to the lack of gravity. Scientists are hopeful that the zebrafish will lay eggs, allowing for close observation of the transparent embryos’ development.
💡The research, the first of its kind in orbit for China, is a collaboration between the Institute of Hydrobiology and the Shanghai Institute of Technical Physics of the Chinese Academy of Sciences. The findings may provide crucial insights into maintaining life support systems for future long-duration space missions.
Japan
Nippon Travel Agency (NTA) and Innovative Space Carrier (ISC) have signed a partnership agreement to develop a space travel business aimed for commercialization in the 2030s. NTA, which established a space business department in 2020, seeks to create safe and comfortable space travel products while promoting regional revitalization and education. ISC, a startup involved in the Japanese government's Small Business Innovation Research (SBIR) Phase 3 project, is focused on making space transportation accessible for everyday life and plans to launch a rocket for artificial satellites by March 2028.
💡The collaboration includes participation in exhibitions, conducting surveys on space travel needs, and exploring commercialization opportunities. At the upcoming Tourism EXPO Japan 2024, NTA will showcase a mockup of a 50-seater reusable rocket conceptualized by ISC.
**Nothing in this article is intended to be or should be construed as legal or financial advice.**